New Delhi, June 28 -- JK Maini Global Aerospace (JKMGAL), the aerospace and defence business of Raymond Ltd (Engineering), is growing faster than its precision engineering business JK Maini Precision Technology (JKMPTL), according to Gautam Maini, managing director of the group's engineering business.

"Aerospace contributes a smaller percentage but it has a higher growth rate," Maini said in an interview with Mint. "We're already growing at 25%," he added.

This shift comes as global aerospace companies turn to India for precision engineering to de-risk supply chains under the China+1 strategy. According to the IMARC Group, India's aerospace parts manufacturing market is projected to grow from $13.6 billion in 2023 to $21.48 billion by 2...